Sunday, January 18, 2015

Important points I

Budgeted cost of work performed on a Project is Earned Value.

Matrix - type of organization where functional managers and project managers share power and authority.

Strong Matrix/Projectized - full-time project managers with considerable authority and full-time project administrative staff.

Weak matrix - like coordinating with other divisions, do not have direct authority

Management Reserves - reserves for unplanned changes, such as managing new risks that were not identified during management planning.

Contingency Reserves - reserves for planned risks. (Cost management, Risk management and Time management)

Cost-to-Benefit Ratio : higher the better.  Project A 1:2 and Project B 1:3, pick Project B.

Resource Histogram and Responsibility Assignment matrix - both used in planning Human resource management process.

Stakeholder influence high during start of the project and decreases in the Execution phase.

EAC Formulas :   Actual Cost + (BAC - EV)
                             BAC/CPI
                             Actual Cost + Bottom up estimate
                            AC + [(BAC - EV)/(CPI*SPI)]

To complete Performance Index (TCPI) : (BAC-EV)/(BAC-AC)

Resource Calendars : find information about the availability of team members.

 Updates can happen in Stakeholder management plan during Control Stakeholder management plan.

Alternate dispute resolution (ADR) : to attempt to reach a mutually agreeable solution.

Litigation in the courts is the last option.

Total planned value is the sum of Planned value.  It is also the Budget at Completion (BAC)

Cost of quality includes training, rework, review, quality planning etc.

During Manage Stakeholder Engagement process, identifying stakeholders is not performed.

Estimate Activity Resources tool - Scheduling software tool.

Unapproved changes can be identified during Perform Integrated change control.

Staffing Management plan : Training needs, Compliance, Resource calendars are part.

Perform Quality Assurance process involves auditing the quality requirements and the results from the Quality control measurements to ensure that the desired quality standards and operational definitions have been used to produce the deliverables.  (Quality metrics, Process Improvement plan, Control Quality measurements,Quality management plan, Project documents - inputs) (change requests, project management plan updates, project document updates, organizational process updates - outputs)

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